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on on capitol hill over the fiscal cliff. treasury secretary timothy geithner sitting down with the top leaders in congress and in the senate, they are discussing what needs to be done to reduce the deficit and maybe how much flexibility there could be on either side. the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the admi
the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily, because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes loopholes and eliminate tax breaks to raise money. but insist that bush-era tax cuts must be extended for all americans. >> reporter: the standoff and the country's skyrocketing debt, concerns ryan shenecki. so much so that he's the guy in the suit, dancing gangnam style with former senator allen simpson. >> i'm keeping up on this baby. >> reporter: his group, the cankicksba
day closer. we're talking about this every day about the fiscal cliff and yet major players are still not sitting down to talk. >> but there was some encouraging news yesterday. president obama and house speaker john boehner did speak on the telephone. right now, though, there's no evidence any future negotiations are scheduled. a new poll by the associated press shows 48% of those asked support letting tax cuts expire january 1 for those earning more than $250,000 a year. but extending them for everyone else. >> just 32% think the cuts should be extended across the boards. >> at 6:37 rchtion it's time for -- at 6:37, it's time for another your money report. >> jessica doyle is talking about the real possibility we actually will indeed go over the cliff. >> they say good things come to those who wait except maybe in the case of the fiscal cliff. timothy geithner said the administration will absolutely take the leap. but some say both sides could wait till january to get down to business without any big economic consequences. the expiration of the bush tax cuts forcing tax rates higher
. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary geithner's comments about going over the cliff. the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me-- or do not used words like "curt," "frank" and "direct" m
're not down to the heart of it yet. >> what about those people who say let the fiscal cliff happen? go over the cliff and see what happens and what political advantage we can gain from that? >> i can't imagine -- i can't imagine when it finally gets down to it that rational people would let that happen. i mean, to throw the country into a recession, which you almost would certainly have. to have these draco nian cuts. you would have cuts in the defense department, charlie, for example. they can't cut programs so they have to cut maintenance. they have to cut -- you know, you can't buy gas for the airplanes. that sort of thing. surely, surely we have not sent people to washington who would be willing to let that sort of thing happen. i can't imagine that it will happen in the end. >> bob schieffer, thank you very much. >>> as we mentioned, bob will interview treasury secretary geithner, congressman mike rogers and dianne feinstein sund sunday. >>> to identify one of the winners who will split a record $588 million jackpot. the other winning ticket sold in arizona might be in the hands of a m
that no leaks means they are getting down to serious movement on finding a compromise to avert the fiscal cliff. because in public the treasury secretary was asked yesterday if the administration is prepared to go over the fiscal cliff. check this out. >> is the administration prepared to go over the fiscal cliff. >> absolutely. we see no prospects for an agreement that doesn't involve those rates going up on the top 2% of the wealthist. remember it's only 2%. >> reporter: most people think a deal will be struck between the president and the speaker of the house, the fact that they are talking and not leaking may be a good sign, jenna. jenna: we'll see. what role has treasury secretary timothy geithner, we just heard from him there, what role has he played in awful all o all of this. >> he's been the public spokesman and delivered the president's plan to capitol hill, which they said was not serious. you had mitch mcconnell try to bring up the geithner-obama plan for a vote. check this out. >> this the president's proposal was made in good faith our friends should be eager to vote for it, so i'
. amanda says i can't afford to go off a fiscal cliff. i'm cutting down in expenditures and gary says i'm prepared to get my passport and look for a new country. stick a fork in it. we're just about done. are you listening, lawmakers and president obama? facebook.com/car facebook.com/carolcnn if you would like to continue the conversation. thanks for the responses. i appreciate t
down the days to christmas. mom and dad, to count down the days until the fiscal cliff until we fall off of it in 30-days. in legislative language they have two weeks to carve out a deal. republicans or democrats miles apart. >> two weeks because they take christmas off. congress does. >> starting the 149. -- 14th. >> they got canceled. >> congress never really shied away from vacation time. they get on planes and get out there. president obama is blaming the republicans for this stalled proposal right now. listen to the president. >> if congress does nothing eerie familiar -- every family will see income taxes go up at the beginning of next year. a typical middle class family of four will see income taxes rise by $2,200. it's unacceptable for some republicans in congress to hold middle class tax cuts in hostage because they refuse to let tax rates go up on the wealthiest americans. >> congressman ted o says he finds the president's suggestion to congress basically laughable, because the president, you will remember during the campaign the 800 billion number was thrown around for new
to look at the focus of the fiscal cliff debate. they would bear the blame if we do go over the edge. the president sat down with bloomberg news yesterday to talk about this. he said he might be willing to budge on some things but tax rates on the wealthy must go up. republicans should agree to raise them he says now and trust them that spending cuts will go away. >> let's put a down payment on taxes let's let tax rates on the upper income folks go up. >> they have heard these problems before any deal must tackle entitlements such as medicare and social security to put them on a sustainable path. vice presidential candidate and budget chairman paul ryan says the overall thinking has to change. >> the problem they are the same. but the old ways won't do. we need new thinking and renewed efforts from all americans. look, it is true that president obama won reelection. i congratulate him on his victory. but on january 20th, he will face a stagnant economy and a fiscal mess. you might even say he will inherit these problems. >> this has become a public relations issue, too. yesterday the
attention to the fiscal cliff. he made this as part of a nonpartson group because you can not be partisan and do gangam style. the can kicks back, they're urging young americans to help solve the nation's crisis. simpson was one half of the simpson bowles commission tasked with tackling the debt and deficit. >> gretchen: the reason he didn't kick the can was because he had a plan that you wouldn't have to kick the can. you would actually put our fiscal order better off. speaking of the fiscal cliff and social media and getting the message out to young people, we know what lawmakers are saying, but what about the taxpayers? ainsley earhart joins us with disheartening answers to say the least. >> some of these responses are pretty funny and yes, obviously not watching the news and keeping up with where their money is going. >> brian: they're not watching the 5:00 a.m show? >> they need to be. i don't know why they're not. maybe they will now. it's their money, it's their bank account. so of course, they know all about the fiscal cliff. right? well, not so much. i went to times square to fin
to the looming fiscal cliff, folks, one top republican says his party does not need to put a plan on the table. is that right? oklahoma congressman tom colatosti with his take on this next. >> this is unsustainable. we have 10,000 baby boomers like me retiring every day. 70,000 this week. 3.5 million retirees this year alone signing up for social security and medicare. people living longer, accessing medicaid. it is not like there is any money in the social security trust fund or medicare trust fund. it has all been spent. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it helps pick up some of what medicare doesn't pay. and could
plan to avoid going over the fiscal cliff. just 25 more days until the countdown clock strikes midnight january 1st and both sides are not backing down from their demands. the white house made it clear the country could go over the cliff if republicans don't agree to end the bush era tax cuts for the wealthiest americans. congressional republicans are standing by their counteroffer to close tax loopholes and
in these fiscal cliff negotiations, treasury secretary, timothy geithner, really doubled down on that yesterday in an interview with cnbc when he was asked if the administration was ready to go over the fiscal cliff, if republicans do not give on this tax issue. listen to what he said. >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. >> john boehner, though, remaining firm in his position, though he says he's already giving, because they're acknowledging that revenue will go up in taxes through the way that they would like to see taxes go up, even though they don't want to see taxes go up, through closing loopholes and eliminating deductions. john boehner acknowledges that revenue is going to be part of this deal, but they are standing firm on, they will not agree to at this point to raising tax rates on anyone. so either way, the major issue remains. the major issue, the major hurdle remains the tax rate issue. >> right, right. and meantime it's ticktock, right? and the house is ou
get hit in the early part of the area if we go over the fiscal cliff, but the fundamentals of the economy are still good. >>> all right. apple stock dropped more than 6% yesterday. shares were down about half a percent in pre-market trading this morning. no concrete news pushing them down, but today there's another hearing in the patent case with samsung in california. and a tech research report generatored a lot of buzz that apple's tablet competitors could eat into its market share. >> interesting. >> thanks, christine. >>> well, the good news is, let's do the fiscal cliff and the good news. and it's not very much. but at least the two sides are talking, by phone. not face to face. house speaker john boehner and the president are hoping to break the fiscal cliff ice. now we're just mixing metaphors, left and right. speaking on the phone, 26 days left, of course, until we tumble over the cliff or slide down the slope or fall off the precipice or however you want to put it. we could, of course, face massive tax hikes, spending cuts. that's what the fiscal cliff is all about
leaving with the fiscal cliff right in front of us -- >> i'll be here and i'll be available at any moment to sit down with the president to get serious about solving this problem. >> in fact, sending lawmakers home is a way for house republicans to illustrate their current message, your move, mr. president. >> we need a response from the white house, we can't negotiate with ourselves. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >> what's mood inside the conference. >> very united, very supportive with the speaker. >> multiple sources tell cnn in a private meeting with house republicans, boehner got no flow back for producing $800 billion in tax revenue, despite backlash from
jobless claims which have some sandy issues involved or the fiscal cliff talks? >> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's been october of 2011 was the last time it happened. it's definitely the fiscal cliff driving things. we heard commentary from lloyd blankfein, between that and the lead story -- one of the top stories on the front page of the "wall street journal" suggesting the president is flexible on the tax hikes, that sounds like a deal might get done. you see a gain of 50 or 60 points. gdp up 2.7% from 2%. there was concerning things when you dig into the numbers, it's all fiscal cliff all the time here, chuck. >> oh, hopefully, as you guys say, it will all -- people will rise above, right, becky? >> that's right. >> i know. i see the button. up next, we're taking a deep dive into the u.s. relationship wit
. the hour you doing? -- how are you doing? i have been watching about the fiscal cliff for the last couple months or so. my problem is they're talking about cutting revenue and entitlements. when it came down to entitlements in the first place, i paid into social security for 30 years. i paid my money. it does not make any sense for you to cut my salary which is almost lower than $16,000 a year. i used to make $38,000. now down to $16,000 and i have to give up more? i do not think that is right. if they just do one thing, all the congressional people, all of the senate people and the people in washington, d.c., give back $10,000 from themselves. 2%. i think they can come up with almost a billion dollars right there. host: ted, what do you think? caller: good morning. i believe that several of the callers today saying that the government should be run like a household. [indiscernible] they need to be able to do that to keep the economy going. programs like medicare, why they are paid into by people throughout their lives, they need to have oversight in order to keep them leaner. i work with
need to have fundamental tax reform tied in to the fiscal cliff negotiations or we are never going to get anywhere on that front and that is dragging the economy down. i think taxes have to be higher. $400 billion out of medicare is about what gets cut every year anyway. medicare has been cut from the baseline every year in budgets for as long as i can remember. [talking over each other] connell: that the democrats would sign on to? what number could you get if you had $400 billion? >> something that addresses the fact that there are $40 trillion in unfunded medicare liabilities over the rest of this century. i am adding that up, $400 billion doesn't get it done. connell: have to remember these things are stretched over ten years. in one case it was 12 years and we thought was 10. steve murphy, thanks for coming on. dagen: the u.s. embassy meantime in egypt now closed amid protests in the country against president mohammad morsi. voting has started on the new constitution. kc mcfarland, formerly distance secretary of defense and fox news national security analyst, great to see you.
together. congress as the clock winds down we're in the fourth quarter as we approach the fiscal cliff. if we can deliver like rg3 delivers we'll be doing well. >> do you see him somebody as you a neither? >> absolutely. this guy sim oppressive. >> reporter: former republican vice presidential nominee paul ryan usually doesn't stop for hallway interviews but he made an exception to praise rg3 even though a congressman from wisconsin has to put the packers first. >> i like to think more that green bay is america's team. we can think the same way. look rg3 it's great to see a young guy come out and be successful. >> reporter: even the majority leader is inspired by rg3. >> he offers bipartisan hope. we hope the redskins have a successful season. >> it's probably like covering bruce springsteen. >> reporter: sports writer is writing a series on robert griffin iii for "the washington post." >> this town obama or rg3 who is the bigger figure in town? who owns this town? it's really one or the other. you flip a wine. >> great young man and a heck of a lot of fun to watch an
the fiscal cliff. you have republicans not just sort of modern republicans, but real conservative republicans saying we got to do what the president wants to do on taxes and debate the other issues later down the road. i don't see democrats doing something of similar hair si on their side. the president controls the game. >> why are the republicans disz i dising a $600 billion cut? why do they say that's not a credible proposal? >> it's laughable, in some respec respects, that they think the administration would come at them with something in the middle ground. that's what they did with the stimulus. they said from the get go, we're going to give republicans what they want. we expect them to meet in the middle. republicans are going to do the same thing. this is not a serious proposal. along the way, they are going to meet. it's going to be a proposal that doesn't have a trillion dollars in tax rates. >> some conservatives are encouraging republicans to go off the cliff. >> they obviously expect republicans will cave on everything. i think republicans ought to simply walk away. >> limbaugh sa
bridge. so one bad thing we kick the can down the road. the other we go over the fiscal cliff but without any clear path forward or plan. in my view, a really bad plan is worse than no plan. at the end of the last congress, where i was here as a member of the lame duck, we were prevailed upon, persuaded to vote for a two-year extension of the bush tax cuts. the price of that was -- had we not done that, unemployment insurance. where millions of americans would have ended. in the days up to that vote, i got painful personal calls visits from friends neighbors people i know from delaware who are unemployed, long-term unemployed would have gone off of unemployment insurance. right now, we're facing three million americans going off unemployment insurance by january. for example, one of many sort of unspoken about potentially very negative consequences if all of the current law is enacted. now, there are many in the senate democratic caucus, this is part of what you were referring to who are saying we should go over th
the road. not that far down the road but get into 2013, get the fiscal cliff thing behind us. why? >> i think tom coburn and the president have slightly different reasons for it. but the problem with just doing tax reform when you don't have the rates going back up is that these deductions and credits that we're going to have to go after to reform, they primarily benefit people at the top. but they also benefit middle-class families. and if you just change those then what you end up doing is raising taxes on middle-class families as well. to get the same amount of revenue. in other words, if you're trying to get a revenue target, let's say $1.6 trillion which is what the president wants. you try to do that just by reforming the code, without the rates. you don't touch the rates. the only way to do it is to get the money out of the middle class. the president doesn't want to do that and most people don't want to do that. but if you let the rates go back up, you're basically halfway to your revenue target and you can
house republicans to avoid the so-called fiscal cliff. also president obama's getting ready to speak this hour about an urgent national security issue. u.s.-led efforts to try to track down and eliminate loose nuclear weapons. that's coming up. >>> also, frightening now revelations about an al qaeda plot for a three-part terror attack on the united states embassy in iman, jordan. i'll ask the country's foreign minister for details. he's standing by live. i'm wolf blitzer. you're in "the situation room." >>> we begin this afternoon with brand-new republican offers to try to save the $2.2 trillion and avoid the so-called fiscal cliff. the across-the-board spending cuts and sharp tax increases that hit in just 29 days. let's get straight to our senior congressional correspondent dana bash. she's watching what's going on. dana, the tax rates, first of all, let's get to a major sticking point right now. there's been a counterproposal from house republicans to the white house. you have details. >> reporter: that's right. let's start exactly where you just began on those tax rates because t
optics of the house leaving with the fiscal cliff right in front of us -- >> i'll be here and i'll be available at any moment to sit down with the president to get serious about solving this problem. >> mr. speaker, does the conference perhaps realize that you don't seem to be negotiating in all of this? >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates. because raising rates will hurt the very people that we're expecting to upgrade jobs in our country. >> all right. house speaker john boehner. let's head back to capitol hill and check in with dana bash. so the president has looked at this offer and jay carney, his spokesman, called it fairy dust. so what did the republicans expect it to be in return? >> reporter: carol, look, what do they expect in return? what they say that they want is just to talk. that is something that should be emphasized for our viewers which is what we are seeing back and forth in the public, the latest public disc
of weeks. but going over the fiscal cliff is serious business, and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> is this based on your meeting with secretary geithner or your phone call with president obama last night. could you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer range solution on entitlements and tax reforms? >> there are a lot of options on the table including that one. >> before the election you were asked whether if obama won taxes would have to go up. i are acknowledging that they will. >> the day after the election i came here and made it clear that the republicans would put revenue on the table as a way to begin to move the process to get this resolved. >> my question is, what message do you have for people who look at the negot
of deal before the country hits the so-called fiscal cliff. president obama says, there isn't enough time to do a comprehensive deal including tax reform and fixing medicare. so he wants congress to do a down payment by raising tax rates for the wealthy "now"... and putting off the hard work until next year. but, as jessica yellin reports, he has to win over the republicans to make that happen. what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> "unfortunately, the speaker's proposal right now is still out of balance he talks, for example, about a 800 billion dollars billion worth of revenues, but he says he will do that by lowering rates. when you look at the math, it doesand he won't agree to eliminate a tax dedication >> "every hospital and university and not for profit agency across the themselves on the verge of realistic option." >> but the president didn't say all this to speaker boehner -- he said it in an interview on bloomberg tv. the last time the two men spoke was almost a week ago. president obama is focused on the stalema
of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares bylackrock. call 1-800-ishes for a prosctus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforters. all designed around t
to go off the fiscal cliff. and the reality is we have to look over the last two years. the republican party established themselves as the party that was willing to let americans entire credit rating go down the tubes in order to stop barack obama last year. it's very clear that most people are going to see them as being the party that's being more obstinate. the truth of the matter is they also because they lost so badly in the election, nobody wants to be seen playing footsie with barack obama under the table which is what they're going to have to do to get this deal done. the republican party is going tond up being blamed which is one of the reasons they will have to compromise more. it's the same thing the democrats did when bush won. you have to compromise with the party that just won. jason johnson, john brabender, thank you thank you both. >>> the new york film critics have made their choices for top films and many times they end up as oscar favorites. all the details next. all the details next. we are gathered here today to celebrate the union of tim and laura. it's amazing how
no comment yet. >> the president is sending the treasurey secretary to capitol hill for fiscal cliff talks with congressional leaders. jamie joins us now by skype from washington dc. any progress in clearing the gap? >> reporter: we are trying to figure out that right now. he was just down stairs from me in the capitol a little while ago. his first meeting with harry reid, next meeting now with john baynor. we hope to hear from both of them in about an hour. nobody is quite sure whether this is a new plan that they are bringing up to sort of shop with leaders, you know we -- if we were talking about negotiations today on the fiscal cliff we may think of a big room or everybody is meeting together at once. that's not what is going on. he is meeting first with reid and then with baynor, later with the senate republican leader, and then later today with nancy pelosi. it's individual meetings that are going on today. that leaves a lot of us to wonder how much progress there is. >> and a lot of the republicans seem to be upset that the president is not meeting with them, that he is sending del
got props. the clinton era rates which america will return to in january unless the fiscal cliff is resolved. it brought more revenues than at any point in the 1980s. thank you. [ applause ] >> grover! >> stephanie: norquist and maria commented this is a different environment than the 1990s. grover said we got four years of bad regulation, higher taxes. he wants to add more taxes to the tea party too. it will starve tea party i if obama pushes us over the cliff. [ screaming ] >> can't just wait for tea party three. >> probably about 150 billion. >> stephanie: that would be bad. okay. oh, let's see. phillip in durham disagrees with everything i say. about everything? >> ever! >> stephanie: hi, phillip. >> caller: hi, stephanie. look. appreciate the show. i think you have not been fair to the facts and let me just ask you from the -- what we're talking about -- >> stephanie: the facts are oversensitive in my opinion. >> caller: that's why you're better as a comedian than a political pundit. >> stephanie:
be at risk if we go over the fiscal cliff. i can tell you that all of the defense contractors very nervous about what they're seeing in washington right now. >> put down the cell phone and the breakfast brooit burrito. huron, south dakota has approved one of the toughest bans on distracted driving in the country that includes, listen to this, a ban on eating while you are driving. if anyone is caught texting and driving, they will be fined $100. you can get a ticket if you're eating lunch, reading the paper or putting on your make-up in the mirror. i'm in trouble. make-up and eating. >> head to our blog, cnn.com/early start for the top stories. we're right back. with the spark cash card from capital one, sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve the most rewards! [ male announcer ] the spark busi
with it. >> so meredith shiner, on the fiscal cliff. >> yes, sir. >> there are a lot of different pieces of it and it can get very complicated, but it can also get boiled down to kind of one first step which the president keeps pointing out. he says, let's just start on what we all agree on. we all agree taxes should not go up for the middle class. so we have a bill that's already passed the senate. it wasn't a filibuster. beefs partnership everybody will get a tax cut on the first $250,000 worth of income for 98% of americans more than they would ever need for a tax cut. the president said the senate says i have my pen. i am ready to sign it. all we need is a vote in the house. why won't that take place? >> trying to get enough signatures for a discharge. >> getting ahead of yourself? >> yeah. >> why no vote? >> it's complicated. i think that what we are seeing now is not any sort of real negotiation. it is a battle of messaging to try to secure aparticular victories. one of the most interesting things about this entire debate is we are focused on the t
administration. this one step would blunt the impact of the fiscal cliff for the vast majority of americans and give them the certainty they so badly need. it would also be a serious down payment on meaningful deficit reduction and ensure that our budget more closely reflects our values. , our fundamental belief in the american dream that if you work hard, you can still get ahead. leading republicans in the house and the senate, including senator snowe and congressman cole, have urged the house to move forward and pass this bill to provide badly needed security and certainty to middle-class families before the end of this year. i join their call. but let's not stop there. let's keep going and find additional areas of compromise and constructive common ground. to provide the business community with the certainty they need to plan, the deployment of investment capital so they can get americans back to work, to provide the market with certainty to sustain this recovery while continuing to invest in our future, and for families who need to know their budget future and who need to be able to hav
that averts the fiscal cliff? >> there is a free-market we presented to the white house two weeks ago. the framework has been agreed to in terms of a down payment for the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of bounds. and not a recognition by the part of the white house on the serious spending problem we have. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will do everything i can to avoid putting the american economy and the american people through the fiasco of going over the fiscal cliff. >> [indiscernible] >> as i told the president a couple of weeks ago, there are a lot of things i have wanted in my life, but almost all of them had a price tag attached to them. if we're going to talk about the debt limit in this, there will be some price tag associated with it. >> are you standing by the dollar-for-dollar on spending cuts? >> i continue to believe t
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